FOR MONDAY: (9/10) The Sept. swoon should continue a few more days for stocks before a larger congestive bounce. Given this market’s tendency for sucker punches, we always have to sell at key areas. Is the higher employment data a game changer for bonds and the dollar? Usually it is but we will have to see how it reacts early next week.
SEPT. E-MINI S & P 500
S & P ANALYSIS FOR MONDAY: (9/10) The S & P gave us the 20-point bounce but never went to the lower support area of 2858.50-60. With a complicated pattern. it still might be possible to hit 2860 and bounce to 2892 before going down again. Market lower into Tuesday but has a chance for a bounce on Wednesday and into Friday next week. Lower support is down to 2837.50 if a bigger break manifests. At this point we would be thrilled to sell the 2887 region but may not get it.
CYCLE SYNTHESIS: Lower to Sept. 9; generally lower into Sept. 11, higher into Sept. 12 and Sept. 18.
Comments are closed.